PERFORMANCE CASE STUDY
SOLD – LFM Long WALE Trust No.1
Gawler, SA and Griffin, QLD
$1.56
UNIT PRICE REALISED
$1 Acquisition
13.7%
IRR
*As at Jun-26
7% pa
AVERAGE ANNUAL DISTRIBUTION
1.98x
EQUITY MULTIPLE
(including distributions)
6 years
INVESTMENT TERM
Origination
- Acquired two properties off-market (QLD & SA) on a fund-through basis.
- Developer relationship, targeted assets underpinned by strong tenant covenants in non-discretionary sectors.
- Portfolio acquisition price of $11.2 million (December 2020).
- Brand new high-quality construction with significant building allowance and depreciation benefits.
Strategy
- Development & hold for rental income and capital growth.
- Long-term 15-year leases with fixed annual rental increases.
- Investment offering geographic, asset class and tenant diversity with complementary income profile to maximise returns.
Execution
- Fixed, pre-agreed purchase price supported by an independent valuation.
- No construction or leasing risk until completion of the building and commencement of the lease.
- Income distributions paid through construction from development coupon.
- Delivered to program with value appreciation prior to completion.
Result
- Held for 6 years for income distributions.
- Portfolio disposal June 2026 for $15.95m.
- IRR: 13.7% p.a.
- Unit Price Realised: $1.56.
- Average annual income distribution: 7%.